Stone Ridge Asset Management LLC bought a new stake in shares of Synopsys, Inc. (NASDAQ:SNPS) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 24,074 shares of the semiconductor company’s stock, valued at approximately $2,052,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of SNPS. Cerebellum GP LLC acquired a new position in shares of Synopsys in the fourth quarter worth about $124,000. IBM Retirement Fund acquired a new position in shares of Synopsys in the fourth quarter worth about $201,000. Conning Inc. acquired a new position in shares of Synopsys in the fourth quarter worth about $205,000. Checchi Capital Advisers LLC acquired a new position in shares of Synopsys in the fourth quarter worth about $205,000. Finally, Tiemann Investment Advisors LLC acquired a new position in shares of Synopsys in the third quarter worth about $214,000. Institutional investors own 90.53% of the company’s stock.

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In related news, CEO Chi-Foon Chan sold 3,609 shares of the company’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $84.77, for a total transaction of $305,934.93. Following the completion of the sale, the chief executive officer now owns 209,244 shares of the company’s stock, valued at approximately $17,737,613.88. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, General Counsel John F. Runkel, Jr. sold 10,000 shares of the company’s stock in a transaction dated Thursday, March 8th. The shares were sold at an average price of $87.00, for a total transaction of $870,000.00. Following the sale, the general counsel now directly owns 23,052 shares of the company’s stock, valued at approximately $2,005,524. The disclosure for this sale can be found here. Insiders have sold 59,540 shares of company stock valued at $5,148,688 in the last three months. Corporate insiders own 1.84% of the company’s stock.

SNPS has been the subject of a number of analyst reports. BidaskClub upgraded shares of Synopsys from a “hold” rating to a “buy” rating in a research report on Tuesday, January 23rd. Needham & Company LLC upped their price objective on shares of Synopsys from $83.00 to $100.00 and gave the stock a “buy” rating in a research report on Friday, December 1st. DA Davidson reiterated a “buy” rating and issued a $105.00 price objective (up previously from $91.00) on shares of Synopsys in a research report on Tuesday, November 28th. Royal Bank of Canada reiterated a “buy” rating and issued a $120.00 price objective on shares of Synopsys in a research report on Thursday, November 30th. Finally, TheStreet downgraded shares of Synopsys from an “a” rating to a “c+” rating in a research report on Wednesday, November 29th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $97.33.

Shares of Synopsys, Inc. (SNPS) opened at $88.48 on Wednesday. The company has a market cap of $13,249.92, a PE ratio of 63.64, a PEG ratio of 5.77 and a beta of 1.09. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.68 and a current ratio of 0.68. Synopsys, Inc. has a one year low of $69.42 and a one year high of $94.80.

Synopsys (NASDAQ:SNPS) last released its earnings results on Wednesday, February 21st. The semiconductor company reported $1.10 EPS for the quarter, topping analysts’ consensus estimates of $1.00 by $0.10. The business had revenue of $769.40 million during the quarter, compared to analysts’ expectations of $750.43 million. Synopsys had a net margin of 1.63% and a return on equity of 6.72%. The company’s quarterly revenue was up 17.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.94 earnings per share. research analysts forecast that Synopsys, Inc. will post 1.54 EPS for the current fiscal year.

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Synopsys Company Profile

Synopsys, Inc provides software, intellectual property (IP) and services. The Company supplies the electronic design automation (EDA) software that engineers use to design and test integrated circuits, also known as chips. It also offers IP products, which are pre-designed circuits that engineers use as components of larger chip designs rather than designing those circuits themselves.

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